The regulator said that while stablecoin-denominated creditor repayments may not be illegal, it “reserves its rights” to challenge transactions involving crypto assets.
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FTX lawyers stressed that in-kind crypto payouts would clash with bankruptcy laws but several creditors feel shortchanged by the proposed cash repayments plan.
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“Not all creditor repayments are bearish,” said K33’s analysts, noting FTX’s cash payouts versus the crypto repayments from Gemini and Mt. Gox.
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The Securities Commission of the Bahamas has revealed that it seized digital assets worth more than $3.5 billion from the collapsed crypto exchange FTX. The regulator explained that the cryptocurrencies were transferred to its wallets “for safekeeping” and “are being held by the Commission on a temporary basis.” Bahamas Regulator Seizes FTX’s Cryptocurrencies The Securities […]
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Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, says the collapse of cryptocurrency exchange FTX has highlighted the urgent need for tighter crypto regulation. “We should not wait until it is large and connected to develop the regulatory frameworks necessary to prevent a crypto shock that could have a much greater destabilizing […]
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Billionaire and FTX co-founder Sam Bankman-Fried said the leading crypto asset exchange aims to make a number of acquisitions and could spend up to $2 billion on such efforts. The FTX chief executive officer highlighted in a recent interview that a fraction of the funds raised by the company were “explicitly viewed from a potential […]
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